Published on 6/21/2021 in the Prospect News Structured Products Daily.
New Issue: Barclays prices $759,000 phoenix autocallable notes on Nasdaq, Russell, S&P 500
By Wendy Van Sickle
Columbus, Ohio, June 21 – Barclays Bank plc priced $759,000 of phoenix autocallable notes due June 16, 2026 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5% if each index closes at or above its 70% coupon barrier on a related observation date.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any index finishes below 70% of its initial value, in which case investors will lose 1% for each 1% decline of the worst performing index.
Barclays is the agent.
Issuer: | Barclays Bank plc
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Issue: | Phoenix autocallable notes
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Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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Amount: | $759,000
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Maturity: | June 16, 2026
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Coupon: | 5% annualized, payable quarterly if each index closes at or above coupon barrier on related observation date
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Price: | Par
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Payout at maturity: | Par unless any index finishes below final barrier, in which case 1% loss for each 1% decline of the worst performing index
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly call observation date
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Initial levels: | 13,998.3 for Nasdaq, 2,335.81 for Russell, 4,247.44 for S&P
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Coupon barriers: | 9,798.81 for Nasdaq, 1,635.07 for Russell, 2,973.21 for S&P; 70% of initial levels
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Final barriers: | 9,798.81 for Nasdaq, 1,635.07 for Russell, 2,973.21 for S&P; 70% of initial levels
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | Barclays
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Fees: | 4%
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Cusip: | 06748EV26
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